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Re:Just Say No to Central Bank Digital Currencies by nly on Friday March 11, 2022 @02:29AM (#30637280)
Are taxes in the US that painful? In the UK I do my tax return every year and it takes me all of about 30 minutes and I only need a few browser tabs open in front of me (typically just my broker and HMRC)
Re:Just Say No to Central Bank Digital Currencies by iso1631 on Friday March 11, 2022 @03:52AM (#30637776)
That's unusual, majority of people in the UK have simple taxes and don't need to fill in any forms.

The US is deliberatly difficult because

1) Companies make a fortune selling "solutions" to this, thus spend a lot of money ensuring it continues

2) Americans don't like taxes, so by making it more obvious the government is taking your tax money, and making it painful in the process, to fund their military, it helps cement that idea there's should be a small state

The US takes 27% of the GDP in tax, the UK 33%, although personal taxes for normal people tend to be about the same, its just that the US pretty much requires an accountant, or at least some expensive proprietary software, and hours of your time.

Re:Just Say No to Central Bank Digital Currencies by mjevans on Friday March 11, 2022 @04:02AM (#30637830)
For that 33% (+6%) you also get universal healthcare (which isn't accounted for in the 27% Americans are paying), so those numbers aren't apples to apples.

That would be another thing that would be great for the GAO (U.S. Government Accountability Office (U.S. GAO)) to produce reports about.

Where are (my / your) Tax dollars going? How does that compare to other countries, in absolute, per person, GDP and other metrics, etc?

Re:Just Say No to Central Bank Digital Currencies by weberer on Friday March 11, 2022 @07:01AM (#30638834)
>Where are (my / your) Tax dollars going?

They do report that.

https://datalab.usaspending.gov/americas-finance-guide/spend...

Re:Just Say No to Central Bank Digital Currencies by mjevans on Friday March 11, 2022 @02:28PM (#30644863)
I hadn't heart of them before:

https://datalab.usaspending.gov/about/

""Who We Are

This site was created by the Office of the Chief Data Officer at the Bureau of the Fiscal Service (Fiscal Service), which is part of the Department of the Treasury. Fiscal Service is responsible for managing public debt, central payment systems, and government accounting. Our team is comprised of data analysts, developers, and UX designers who are passionate about putting trusted data in the hands of the people.""

So that site is created by the disbursement arm of the bureaucracy, which explains the overly generic output bins as well as no metric for adjusting based on taxes paid in by an individual, nor for area of the country. I was rather hoping for something with an order of magnitude or two of greater depth that dynamically adjusted the context of graphical representation based on what mattered to the viewer.

Re:Just Say No to Central Bank Digital Currencies by csomar on Friday March 11, 2022 @06:12AM (#30638551)
> For that 33% (+6%) you also get universal healthcare

I don't think taxes goes to healthcare (either in France or the UK). I think that's paid up for with your social security contribution?

Re:Just Say No to Central Bank Digital Currencies by iso1631 on Friday March 11, 2022 @06:23AM (#30638602)
It's all taxes, and it all goes to the same pot, there's no hypothecation, the NHS budget is not related to the money brought in from NI contributions, and National Insurance is included in the tax revenue along with VAT, Fuel Duty, CGT, Stamp Duty, Income Tax, etc

NI is about 19% of tax revenue, Income Tax 27%, VAT 18%, local taxes (council tax and business rates) about 10%.

It doesn't include other receipts, things like profits from state owned business.

Total government revenue (about 10% higher than total taxation) does not cover total government expenditure, hence a deficit, and some branches of economics considers revenue and expenditure separate in a system which controls its own currency.

Either way, the US spends more on government healthcare (per head of total population) then the UK, the decision not to have universal healthcare isn't a funding one

Re:Just Say No to Central Bank Digital Currencies by csomar on Friday March 11, 2022 @06:33AM (#30638661)
I stand to be corrected. But deficit should also be included (it's to be paid by future generations or being paid by currency debasement).
Re:Just Say No to Central Bank Digital Currencies by EVa5I7bHFq9mnYK on Friday March 11, 2022 @06:55AM (#30638796)
Americans chose great army instead of healthcare.
Re:Just Say No to Central Bank Digital Currencies by weberer on Friday March 11, 2022 @08:09AM (#30639342)
The United States spends more money per capita in healthcare than any country in the world, and 2-3x as much as most European welfare states. There are a lot of problems with the system, but "not enough money funneling into it" is not one of them.

https://en.wikipedia.org/wiki/List_of_countries_by_total_hea...

Re:Just Say No to Central Bank Digital Currencies by iso1631 on Friday March 11, 2022 @07:48AM (#30639151)
The US government still spends more on healthcare as a total amount per person (about $1.4T, or $3,880 per person, just for medicare+medicaid), compared with the UK (about $3,300 per person)

The US as a whole in 2019 spent 16% of its GDP on Health, 4% on Military

The UK meanwhile spent 10% on Health and 3% on Military

Re:Just Say No to Central Bank Digital Currencies by EVa5I7bHFq9mnYK on Thursday March 17, 2022 @02:36AM (#30708289)
Have you been to a doctors office in the US? There are more administrators filling out insurance papers than doctors. US spends money on healthcare administration, not on healthcare. The same dollar in the US buys ten times less insulin than a dollar in Canada.
Re:Just Say No to Central Bank Digital Currencies by splintercell on Friday March 11, 2022 @07:33AM (#30639022)
Soon you will learn what happens when Americans don’t choose a great army.
Re:Just Say No to Central Bank Digital Currencies by iso1631 on Friday March 11, 2022 @07:42AM (#30639098)
Well this "great army" doesn't seem to have stopped Putin invading Ukraine

Caused a few wars though

Re:Just Say No to Central Bank Digital Currencies by splintercell on Saturday March 12, 2022 @12:55AM (#30649294)
I suggest listening to Peter Zeihan. Americans have stopped caring about the world order, this is the consequence of that.
Re:Just Say No to Central Bank Digital Currencies by ZeroGravitas on Friday March 11, 2022 @07:32AM (#30639018)
They even chose "socialized medicine for the Army" to further drive the point home.
Re:Just Say No to Central Bank Digital Currencies by kevin_thibedeau on Friday March 11, 2022 @04:38AM (#30638038)
The process is pretty easy if you're on W2 and can't beat the standard deduction. No software is required to fill out the form.
Re:Just Say No to Central Bank Digital Currencies by espadrine on Friday March 11, 2022 @04:48AM (#30638095)
In France, it went all the way to where I don’t do any tax filing; the government does it for me, and sends me a PDF itemizing their tax, and automatically debiting it from my account.

There is no CBDC needed for that.

(In fact, all the article’s fears about payment prevention and free speech restriction are all possible without CBDC, and already in place in some segments that gained popular support, which minorities and SW have been complaining about across the decades.)

Re:Just Say No to Central Bank Digital Currencies by parkingrift on Friday March 11, 2022 @07:00AM (#30638823)
> Are taxes in the US that painful?

For most people, no. However, as you make your way up the income bracket or acquire investments or property it gets more and more complicated.

…and if you mess it up the IRS will be sure to tell you what you’ve done wrong and what you actually owed.

Re:Just Say No to Central Bank Digital Currencies by thehappypm on Friday March 11, 2022 @07:10AM (#30638882)
Yeah it sucks pretty bad. Like my wife’s company does RSU transactions every like month and we need to adjust the cost basis for each one for some reason. This is a Fortune 50 company.
Re:Just Say No to Central Bank Digital Currencies by AitchEmArsey on Friday March 11, 2022 @03:50AM (#30637767)
Thank you citizen!

(check username)